SBI mCASH facility: The country’s largest public sector bank, SBI, has announced that it will be discontinuing one of its services after November 30th. SBI customers will no longer be able to use it to send money.
If you have an account with the State Bank of India (SBI), this news is very important for you. SBI has made an important announcement for its customers. The bank will discontinue the mCASH sending and claiming facility on OnlineSBI and YONO Lite after November 30, 2025. This means that SBI customers will no longer be able to send money using mCASH without saving their account number. They will also be unable to claim money sent through the mCASH link or app.
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SBI has provided this information on its website. The bank has urged customers to use other secure and widely used digital methods for sending money, such as UPI, IMPS, NEFT, and RTGS. These methods are also very easy and secure. According to the information provided on the SBI website , “The mCASH (sending and claiming) facility will no longer be available on OnlineSBI and YONO Lite after November 30, 2025.” Use alternate transaction modes like UPI, IMPS, NEFT, RTGS etc. to send money to third party beneficiaries.
How was mCASH used?
Previously, customers could download the SBI mCash application from the Google Play Store. They then registered an MPIN to log in. This MPIN was used to log in to the SBI mCash app.
What were the features of mCASH?
mCASH allowed customers to claim funds sent by another State Bank customer using a passcode. They could transfer the claimed funds to any of their bank accounts. Customers could also save an account number and IFSC code as favorites for future claims.
How did mCASH work?
State Bank of India’s mCASH allowed customers to claim money sent through OnlineSBI or State Bank Anywhere. Using this service, any SBI customer with internet banking could send money to anyone without registering their account number. All they needed to do was use the recipient’s mobile number or email ID.
On the recipient’s side, anyone with an account at any bank could claim the money through the State Bank mCASH mobile app or the mCASH link provided on OnlineSBI. Depending on the sender’s chosen method, the recipient received an SMS or email containing a secure link and an 8-digit passcode.
